New Issue: RBC sells $20.07 million market-linked step-up autocallables tied to Euro Stoxx 50

By Wendy Van Sickle

Columbus, Ohio, Oct. 30 – Royal Bank of Canada priced $20.07 million of 0% autocallable market-linked step-up notes due Oct. 24, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the step-up level – 127.25% of the initial level – the payout at maturity will be par of $10 plus the index gain.

If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 27.25%.

Investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

Issuer:	Royal Bank of Canada
Issue:	Market-linked step-up notes
Underlying index:	Euro Stoxx 50
Amount:	$20,067,180
Maturity:	Oct. 24, 2019
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 27.25%; exposure to any losses
Initial level:	3,637.20
Step-up value:	4,628.34, 127.25% of initial level
Pricing date:	Oct. 26
Settlement date:	Nov. 2
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	78014F841

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